A tankless water heater never runs out of hot water. Instead of the traditional tank, the heater is filled with small pipes that are surrounded by a gas burner or an electric coil. The water is heated on demand, as it is used, saving from a quarter to a third of the cost of heating water, perhaps $100 annually.
Always having hot water available means less is available at any given time.
Installing multiple tankless units offers a solution. The tankless units are the size of a small suitcase, so several can be placed together near the locations in your house needing hot water, which increases efficiency.
Any of you already have these installed in your homes? Tell me your experiences!